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Business & farm
Its not clear if all 7 MLPs are in your IRA, or some are in a non-IRA brokerage account.
If any are in a regular taxable account you should update your turbotax file by entering them in. The IRS gets copies of the K-1s, so would expect to see any taxable items reported, but if your tax documents don't change there's no need to resubmit anything. Either way, next year's return will have the correct carry-over amounts.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
‎April 14, 2024
1:10 PM
3,247 Views